First Bubble in History , Tulip Mania by steeminator3000

economics · @steeminator3000 · Dec 18 '17

$52.29

First Bubble in History , Tulip Mania

Tulip Mania is a name for unique event happened in Holland in 1637. The Tulip prices increased like crazy however it crashed even more after this increase. This event might look similar to what is happening in crypto-market right now for people who doesn't have idea about how coins are generated , lets take a look.

![](https://steemitimages.com/DQmXyqJpeaHNkL4127J8HFhibUkFExFjHqDAxtnpjmafCcz/image.png)

*A Portrait about Tulip Mania*

#### Story

![](https://steemitimages.com/DQmX4TsMDLuTnpXk1KSAvB1BuveC1RoqYbFe5cBpambkDT1/image.png)

Tulips first entered to Holland in 1593 according to the recordings. The ambassador of Suleiman the Magnificient gifts Holland some of the tulip seeds and introduces it to them , eventhough Holland used to have these tulip onions they thought it was special dish to Turks and they used it in foods instead of planting them.

The strange part starts after learning the functionality of Tulips. All the merchants thought that it was a mesmerazing flower they started to sell those onion shaped seeds. This maddness slowly jumps to France , Germany , Belgium and tulips become the most popular flower of the palaces and the people started to follow this trend created by aristocrats

![](https://steemitimages.com/DQmbgf3utZ4q6DzCCDQ2FQLSnEJ7DoEmfN3MVmU8BvgGJHZ/image.png)

In 1623 one type of tulip was worth 1500 dollar from todays value of money , however in 1637 one special tulip seed was worth 76.000 dollar. When the price was that unreasonable Holland starts to plant tulips in every suitable land and price
continues to climp up. One of the main reason for this pump was a virus which mutate the tulips and make them rarer and special and owning that kind of tulips used to increase your status and charisma in society so they become symbol of prestige instead of just mark of beauty.

Eventually goverment starts to offer some options for this rapidly increasing tulip prices. By options they provide an oppurtunity to sell or buy them in the future from a decided price. People got crazy over tulips and everyone was running in the streets imagining tulips and people eventually sell and mortgage their houses in order to buy more tulips. In 1637 you could buy a decent big ass mansion in Amsterdam with Red light district view by selling only 1 tulip , however price starts to crash a little.

![](https://steemitimages.com/DQmNbaK9FJFRen1rKADRgVeGJ1oXJN16Po6NGY3pPXN1n5P/image.png)

All the merchants turned in to fire sale mode and they didn't buy new tulips , therefore the price crashes more and eventhough goverment authorities said that these are pure speculations they couldn't restore the faith to the tulips. Goverment even offered to pay 10 percent fee to the buyers incase of a price change. The 76.000 tulip price stabilezed in 1 dollar after only 6 weeks and Holland faces with one of the biggest economic collapses.

<center>![](https://steemitimages.com/DQmai3tXCwTQWsfJc1gePfg7rZpza4LBiXrkeGjajKv1Wz9/image.png)</centeR>

#### <center>Thanks for Reading & Hasta La Vista!</center>

👍 cryptoctopus, sndbox, kingscrown, mangos, steeminator3000, fminerten, boatymcboatface, steempty, busy.org, followbtcnews, fingersik, sirvotesalot, mahdiyari, voronoi, roused, grandpere, hansikhouse, monomyth, brianturner, theshell, the.collector, polebird, hknyasar, vitruvianman, kalvas, amazons, samrg472, suprepachyderm, ffodie, bue, redpill, jacknbeanstalk, dontstopmenow, themadgoat, olyup, shawnvanderveer, themassacre, mindfreak, musicnews, ygriffiny, lcks, secondstar, aboutyourbiz, rossco99, alktoni, ravegirl, hottestvids, coolguy123, sotura, nasrud, fatmanc1970, foxdal, rexusmo, klevn, cryptonewsone, todaystopnews, juanvaldez, thetrain, createschaos, hsynterkr, playitforward, mrblinddraw, marshalllife, vjg, and 27 others

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@dedicatedguy · Dec 18 '17

I don’t think the comparison applies to crypto because with tulips you can just grown them over and over again. With bitcoin for example, you have a limited number of them and increased utility.

👍 klevn

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@steeminator3000 · Dec 18 '17

>This event might look similar to what is happening in crypto-market right now for people who doesn't have idea about how coins are generated , 

Yeah I said the same man :D

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@klevn · Dec 18 '17

This exactly.  I see the supply of coins is limited, while tulips could be produced in great quantity by anyone having seeds.  That would be an apt only if anyone with a coin could make more from it.

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@mime · Dec 18 '17

Good information..
But in indonesia Bitcoin is ilegal

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@polebird · Dec 18 '17

😲😲😲

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@ludji · Dec 18 '17

Hahaah thanks for the info, people keep talking about tulips and I was too lazy to google it. Bitcoin "may" be a bubble, but there are a number of altcoins that bring quality of life changes and they are here to stay.

👍 ludji

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